Vilmorin & Cie has just closed the full takeover of the company Seed Asia, whose head office is based in Bangkok (Thailand). Specialized for more than twenty years in the creation, production and distribution of hybrid tropical corn, Seed Asia is one of the rare independent local players for this crop.
Seed Asia, with a headcount of more than 80, has an extensive sales network of over 200 distributors across South East Asia. Representing around 8% of the Thai market, in 2013 the company achieved growing sales of 9 million dollars, including 40% made internationally (Cambodia, Myanmar, Sri Lanka, etc.). Seed Asia has two operating entities, in Thailand and Cambodia, along with other research and production facilities.

The acquisition of Seed Asia corresponds to Vilmorin & Cie's strategic objective of internationalizing its corn seed activities, with locations in a new area with high potential - South East Asia, which represents nearly 9 million hectares of corn. Furthermore, through this operation Vilmorin & Cie has gained access to proprietary genetic resources of high quality tropical corn, well-suited to other zones including India, Brazil, southern China and Africa. Vilmorin & Cie will also benefit from existing co-operation agreements between Seed Asia and research institutes and universities, particularly in the Philippines, Brazil and the United States.

 

"Since our team started breeding tropical corn more than 20 years ago, we've focused on R&D to develop quality hybrids that bring value to farmers in Thailand and this region," said Tim Welsh and Nida Sombatpiboon, the founders of Seed Asia who will remain in the management of the company. "With Vilmorin & Cie, we look forward to expanding our commitment to farmers and to accessing more technology that will help us sustainably create a broader range of products that meet global needs."

 

"With the acquisition of Seed Asia, achieved in partnership with its founders, we are extending our international presence in corn. At the same time, this acquisition has enabled us to enrich our genetic heritage, providing us with the means to rapidly build an efficient regional breeding platform for tropical germplasm. Moreover the local marketing and sales teams constitute a good base, immediately operational for distribution across South East Asia. Through this operation we have taken an important new step in our world corn seed strategy", Vilmorin & Cie's CEO Emmanuel Rougier declared.

COMING DISCLOSURES 2013-2014

Tuesday April 29, 2014 (before the Paris stock market opens): sales at the end of the 3rd quarter
Wednesday July 30, 2014 (at the end of trading on the Paris stock market): sales for the fiscal year
Tuesday October 7, 2014 (at the end of trading on the Paris stock market): results for the fiscal year

FOR ANY FURTHER INFORMATION:

Daniel JACQUEMOND
Chief Financial Officer
daniel.jacquemond@vilmorin.info

 

Valérie MONSERAT
Head of Financial Communication and Investor Relations
valerie.monserat@vilmorin.info

Tel: + 33 (0)4 73 63 44 85
Fax: + 33 (0)4 73 63 41 80
Website: www.vilmorin.info:
http://www.vilmorin.info/

VILMORIN & CIE TAKES CONTROL OF SEED ASIA (THAILAND):
http://hugin.info/143537/R/1770545/602614.pdf


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Source: VILMORIN & CIE via Globenewswire
HUG#1770545